What is business sustainability?

With a focus on corporate social responsibility (CSR), it has evolved into corporate governance, internal operational efficiencies to integrate organization’s strategies, culture, and practices toward long-term and sustainability performance in multidimensional. By different stakeholders, Sustainability has been perceived with different meanings.

Business sustainability as per academic and practical prospects can be defined as preserving the environment so that a better environment for future generations can be created. The company’s CSR i.e. the responsibility for society above has been fulfilled beyond the mandatory obligations.

Sustainability has been considered to focus on short, medium- and long-term financial perspective that can generate value for different shareholders. The business activities can also be viewed ethically with effective corporate governance where ongoing concerns and business continuity are ensured.

The function is multi-disciplinary with a focus like accounting, economics, ethics, finance, management, marketing, law, and supply chain management, with a focus keen on improving economic vitality and ethical behavior, ecological health, governance measures, and social justice.

Source:- Handbook of Green finance.

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